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russia. we'respeaking to our energy minister. we are understanding he is also there get we are understanding that venezuela was there. these talks ended quite successfully. we are getting headlines. they are agreeing to free the oil production. this is extremely interesting. let's have a look at the price of oil. i am sure it has had an impact. the picture for oil, certainly $29 .99 -- $29.99. we will dig a little deeper and bring you the very latest. stay with "the pulse." january acceleration expected to pick up. a rebalancing of the basket. reading --nths first 2016 possible first reading. to slash costs. why the never-ending nightmare for such a banks is far from over. that is what is coming up. less, this breaking news on oil. more -- we will have more. ♪ francine: welcome back. we are getting some breaking news out of qatar and saudi oil minister saying they have agreed to free production could -- free production. you can see brent lowered a little bit. it is still gaining. wti is falling over the news. we have to figure out why that is. maybe a little more of a cut and

russia. we're speaking to our energy minister. we are understanding he is also there get we are understanding that venezuela was there. these talks ended quite successfully. we are getting headlines. they are agreeing to free the oil production. this is extremely interesting. let's have a look at the price of oil. i am sure it has had an impact. the picture for oil, certainly $29 .99 -- $29.99. we will dig a little deeper and bring you the very latest. stay with "the pulse." january...

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stateandrussiaandyou are no longer able to focus on one threat at a time. i would like to walk through those threats if we may. what is the biggest threat today? >> all five of them are large. all five of them have to be countered. so we do not have the luxury of deciding one has a higher priority over the other. the counter isil fight calls upon counterterrorism and counterinsurgency capabilities right now. as we look ahead to longer term competitive situations, with other countries where we do not expect to have a war, don't want to have a war, but have to deter them by showing that any work they do get into with the united states they will regret. and in ahina, russia, somewhat lesser way, iran. in those cases we have to plan for an enemy that is more high-tech than isil, for a longer area of time -- longer period of time than we expect from isil. we expect to be in a relationship with china and russia for the long-term. we have to do it all which is why a budget of almost $600 billion -- what the president requested on behalf of the department of defense is a lot of money.

state and russia and you are no longer able to focus on one threat at a time. i would like to walk through those threats if we may. what is the biggest threat today? >> all five of them are large. all five of them have to be countered. so we do not have the luxury of deciding one has a higher priority over the other. the counter isil fight calls upon counterterrorism and counterinsurgency capabilities right now. as we look ahead to longer term competitive situations, with other countries...

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see production come off the market. francine: let's see if opecandrussiacanagree. both stay with us, we will be talking about russia and opec next. we take a bigger look at the emerging markets, most at risk, coming up next. ♪ francine: welcome back to "the pulse," live from bloomberg's london headquarters. let's get to the business flash. hsbc will impose a hiring and pay freeze as part of its drive to cut as much as $5 billion in cost by the end of 2017. they outlined a three-year plan prepared by a sprawling global aswork by eliminating jobs he pushes to improve earnings amid surging compliance costs. has announced a buyback as a double its earnings in the third quarter share. >> after this buyback program, we have given almost 4.1 billion back. to the extent that we continue to be profitable and have a significant cash and the business, we will look to do more buybacks. bt has topped earnings estimates for the last quarter, u.k.a rose after the biggest drawback provider one more customers for its internet product. ubs has hired former reverend howard ceo for its team. he is

see production come off the market. francine: let's see if opec and russia can agree. both stay with us, we will be talking about russia and opec next. we take a bigger look at the emerging markets, most at risk, coming up next. ♪ francine: welcome back to "the pulse," live from bloomberg's london headquarters. let's get to the business flash. hsbc will impose a hiring and pay freeze as part of its drive to cut as much as $5 billion in cost by the end of 2017. they outlined a...

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next hour. here is what we are watching. the oil markets delivered thisverdict.russiaandsaudi arabia not doing anything to drop up rises. mark: inflation u.k. rises to the highest level in a year. brendan: anglo american is selling off its units. we want to hear from the company's ceo. we are a half-hour away from the close of trade. tell us about it. mark: we saw the stoxx 600 soar by 6% over two trading sessions. we have run out of steam, run out of gas after the news from russia and saudi arabia. excuse the pun. maybe investors expected more. 6%. these are the big movers. the comeback kid. earlier in the session, the miners sank as much as a percent. 1% speeding up plans to put out materials with better demands such as diamond, copper, and it's raising woodcut to junk yesterday. it is the first london major minor to suffer that distinction. it wants to cut the debt to 10 billion just over 12 billion. it will be a hard time to do that given the ongoing slide in its raw materials. since have jumped by 70% january the 20th. do not ignore the fact they are down by 17% in the la

next hour. here is what we are watching. the oil markets delivered this verdict. russia and saudi arabia not doing anything to drop up rises. mark: inflation u.k. rises to the highest level in a year. brendan: anglo american is selling off its units. we want to hear from the company's ceo. we are a half-hour away from the close of trade. tell us about it. mark: we saw the stoxx 600 soar by 6% over two trading sessions. we have run out of steam, run out of gas after the news from russia and...

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francine: freezing oil production. saudi arabiaandrussiastrikea deal. markets are disappointed. they were expecting a cut. european stocks on the rebound. central banks willing to support growth, investors say mario draghi will make action in march. anglo-american posts a loss after being cut. in an interview, the ceo says he will sell more mines. i'm francine lacqua in london with tom keene in new york. the most significant news we have had over the last hour is saudi and russia. looks like we may have a floor for the price of oil. tom: we may have an agreement -- it is pretty sketchy right now. javier blas is working on it with bloomberg news. to me, it's a lot of what if. maybe the story will change up in the hour. francine: yeah. we definitely have a freeze. that is why the saudis are talking about the tar minister. now let's get straight to the bloomberg first word news with vonnie. vonnie: in harris, david cameron -- in paris, david cameron failed to win over francois hollande. france heads a group of european nations, unhappy with his proposals for banks in london. the u

francine: freezing oil production. saudi arabia and russia strike a deal. markets are disappointed. they were expecting a cut. european stocks on the rebound. central banks willing to support growth, investors say mario draghi will make action in march. anglo-american posts a loss after being cut. in an interview, the ceo says he will sell more mines. i'm francine lacqua in london with tom keene in new york. the most significant news we have had over the last hour is saudi and russia. looks...

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after the output freeze sanctioned by saudi arabiaandrussia. iranis now weighing in. maker wins --lane white is not enough to prevent layoffs. let's head over to the markets desk where julie hyman has been looking at the latest. julie: the rally is continuing and we've seen a similar pattern over the past couple of days where stocks gain and then stay there. that is happening once again here in today's session. take you look at the bloomberg get more granular here as to the daily move i'm talking about. stocks gained steadily throw the day. yesterday, a rocky morning and steady afternoon. we are now up 5.3% over that three day period. what has done the best? financials and materials getting the most. here's the individual movers. report back rent and gold doing the best during this three-day run a 51%. moran.eport mac ran only 20 companies in the s&p 500 that are down over this three day period. it has been a broad-based rally as well. one-stop that caught our eye was kellogg's. the stock rallying after an earnings report a couple days ago. run we haveat this seen in kellogg's s

after the output freeze sanctioned by saudi arabia and russia. iran is now weighing in. maker wins --lane white is not enough to prevent layoffs. let's head over to the markets desk where julie hyman has been looking at the latest. julie: the rally is continuing and we've seen a similar pattern over the past couple of days where stocks gain and then stay there. that is happening once again here in today's session. take you look at the bloomberg get more granular here as to the daily move i'm...

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ends, a assadwins.russia, iran,hezbollah help sod to the point where he wins. that is one possibility. isis would be destroyed in that situation. and the syrian government reasserts its authority and the rebels are destroyed. the u.s. is not supporting that. richard: i don't see yet a clear way out of it. the arab states aren't supporting that program. and turkey isn't supporting that program. another possibility is the kurds take over the north. the kurds drive out isis effectively. that is the u.s. main strategy now. the kurds will be the troops on the ground. with an arab participation. turkey doesn't want that. they are actively fighting against that. another possibility, that there is this moderate arab sunni coalition that pushes the kurds out and pushes assad back. the u.s. doesn't seem to want that. russia doesn't want that. there is still no international consensus on how this is supposed to end. who is supposed to win. it is still a proxy war were everyone has a most favored client. as long as that continues it is going to be very bloody. baghdad is getting worse

ends, a assad wins. russia, iran, hezbollah help sod to the point where he wins. that is one possibility. isis would be destroyed in that situation. and the syrian government reasserts its authority and the rebels are destroyed. the u.s. is not supporting that. richard: i don't see yet a clear way out of it. the arab states aren't supporting that program. and turkey isn't supporting that program. another possibility is the kurds take over the north. the kurds drive out isis effectively. that...

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brendan: good morning. i am -- i'm in for betty liu allweek.russiaandsaudi arabia freeze oil output in january levels. the market is struggling off of the first significant -- we will look into why. also, it used to be they can't miss recession predictor. be skeptical of the signals you get from the yield curve. high drama out of the high court. how the death of antonin scalia will have a huge impact. housing data. julie hyman has the latest. it is a reading of 58, below 60 estimated by analysts. that is a nine-month low for that reading among u.s. homebuilders. we are seeing potential buyers staying away here. we see progress in the real estate market. this is a stutter with in that. this is typically not a big market moving number. we are seeing the rally in u.s. stocks that does remain intact at this present time. particularly buying in asia and initial buying and oil, though that has faded to some degree. take a look at the imap on bloomberg here. a rebound in information technology. thingsbeen one of the that has held back stocks this year. financials are coming back as

brendan: good morning. i am -- i'm in for betty liu all week. russia and saudi arabia freeze oil output in january levels. the market is struggling off of the first significant -- we will look into why. also, it used to be they can't miss recession predictor. be skeptical of the signals you get from the yield curve. high drama out of the high court. how the death of antonin scalia will have a huge impact. housing data. julie hyman has the latest. it is a reading of 58, below 60 estimated by...

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saudi arabiaandrussiameettoday with oil around $30 amid a global plunge. and planning a record by back after shares fell to their lowest. welcome to first up, i'm angie lau coming to you live from the asian headquarters streaming on mobile and bloomberg.com. it is tuesday morning for us. we have equities climbing point 2% despite imports and exports from china weaker than expected. ba minuteswe get her from the february meeting out ahead today. we will see how they are dealing with market volatility. in new zealand, a gains of .33% higher. and we are counting down to the opens in japan and korea. will today be a day like yesterday? it was a whopper of a take climbing more than 7% higher. that helped lead asian markets to the best rally in seven years. futures in chicago pointing to a lower open this morning. this is likely why. we have a stronger yen. the relief rally that swept through asian markets really did carry through the european session with growing hope that the ecb will expand the malus. we have -- expand stimulus. mario draghi taking credit for the change in sentiment.

saudi arabia and russia meet today with oil around $30 amid a global plunge. and planning a record by back after shares fell to their lowest. welcome to first up, i'm angie lau coming to you live from the asian headquarters streaming on mobile and bloomberg.com. it is tuesday morning for us. we have equities climbing point 2% despite imports and exports from china weaker than expected. ba minuteswe get her from the february meeting out ahead today. we will see how they are dealing with market...

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taking on isis. if you look back attherussiahasbeen propping up beside this entire time. that putin finally had to send his own troops and his invest this massive military operation was not a strengths isgreat a testament to the weakness of the sun's position. if somebody is strong you have to send in an army to prop up your ally. they have legitimacy in their country and they can manage the cells. army when theur horse you are backing is not effective. that is sacrilegious happened. i said it would involve itself in a quagmire. absolutely well. if anybody thinks that somehow the fighting ends because russia and the mid-regime has made some initial advances. about three quarters of the country is still under the control of people other than aside. that is not stopping anytime soon. pleasure thish no is not a contest between the how do we stop the suffering and stabilize the region. there's nothing there is happened over the last several weeks that points to those issues being solved. putin may think that he is prepared to invest in a permanent occupation of syria. that is goin

taking on isis. if you look back at the russia has been propping up beside this entire time. that putin finally had to send his own troops and his invest this massive military operation was not a strengths isgreat a testament to the weakness of the sun's position. if somebody is strong you have to send in an army to prop up your ally. they have legitimacy in their country and they can manage the cells. army when theur horse you are backing is not effective. that is sacrilegious happened. i...

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they are trying to get the best possible agreement. what ithinkrussiahasto recognize and this goes to the heart of it. they continue to brutalize and win some territory back but as the president said yesterday, three-quarters of syria is under control of someone other than assaad. he isn't going to regain that territory. russia and assaad, they maybe cannot lose but they can't win. as soon as they win, if it keeps going in this direction, it is going to be struck trying to protect assaad and putting more lives in jeopardy and probably to end up at best. charlie: the defense secretary said to me last night, they propped up assaad and looks good for him and in a strong negotiating position, this is bad for russia. guest: yes. what we saw that russia was helping to prop up assaad with iran and hezbollah and they came in heavier ap harder and intervened. but not out a strength but their foothold in the middle east was on the verge of disappearing. but the cost is huge because in order to do that, in order to keep them going they have to be in in. they have to take ground. moralee is a

they are trying to get the best possible agreement. what i think russia has to recognize and this goes to the heart of it. they continue to brutalize and win some territory back but as the president said yesterday, three-quarters of syria is under control of someone other than assaad. he isn't going to regain that territory. russia and assaad, they maybe cannot lose but they can't win. as soon as they win, if it keeps going in this direction, it is going to be struck trying to protect assaad...

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meeting between iraq and iran. it comes after saudi arabiaandrussiaagreeto freeze production yesterday. it is called the beginning of a process. the iraq oil minister will me his venezuelan counterpart. cause for greater regulation of u.s. banks. the man who led the 2008 bank will a program also proposed the idea of breaking them up to protect the economy from another financial crisis. like significant progress has been made to strengthen the financial system, but i don't think it went far enough. the biggest banks continue to post an ongoing large risk to our economy. anna: david cameron has edged closer to securing an overhaul of the terms of britain's membership to the european union. he is due in brussels tomorrow for the second time in 48 hours. he won the backing of angela merkel. eu's rotatingthe presidency also agreed that was a good basis for a deal. donald trump will not be elected president. they expect the u.s. to lead the world. >> i continue to believe mr. trump will not be president. the reason is because i have a lot of faith in the american people. and i think they rec

meeting between iraq and iran. it comes after saudi arabia and russia agree to freeze production yesterday. it is called the beginning of a process. the iraq oil minister will me his venezuelan counterpart. cause for greater regulation of u.s. banks. the man who led the 2008 bank will a program also proposed the idea of breaking them up to protect the economy from another financial crisis. like significant progress has been made to strengthen the financial system, but i don't think it went far...

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makes a headline today with saudi arabiaandrussiasetto meet to discuss prices and production. hase is back above $30, but -- down about 17%. ready to dig deep to support stock, announcing a buyback worth almost $4.5 billion. shares jumped the most in seven years. singapore airshow, with the future of asian air travel and the cream of the aviation world in attendance, we are live at the airport. let us know what you think about that top stories by following me on twitter. don't forget to include #trending business. breaking news out of south korea, the central bank has kept its key interest rates on hold at a record low of 1.5%. that is after cutting four times since 2014. surveyed werests not expecting a cut, however in ars have been pricing rate cut very soon after japan adopted a negative interest rate, which kicks off today. again, the central bank of korea keeping rates on hold at a record low of 1.5%. let's take a quick look at the korean trading. down half a percent. the china and hong kong markets get underway in about 80 minutes. singapore, taiwan and malaysia have ju

makes a headline today with saudi arabia and russia set to meet to discuss prices and production. hase is back above $30, but -- down about 17%. ready to dig deep to support stock, announcing a buyback worth almost $4.5 billion. shares jumped the most in seven years. singapore airshow, with the future of asian air travel and the cream of the aviation world in attendance, we are live at the airport. let us know what you think about that top stories by following me on twitter. don't forget to...

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. freeze in oil production, coupledwithrussia, shouldbe pretty positive for prices down the line. ont: let's get more insight oil now. joining me now from new york is fadel gheit. he is the senior strategist from oppenheimer. , they were at high levels were they wanted to freeze, so this wasn't like a cut. it is not going to ease the pain on oil producers. it is not going to impact supply because saudi arabia and russia are producing basically at full capacity. maxing out. so global demand continues to , the currentfore rate of production is likely to sustain for a lot longer than many people are saying. so it is not a step in the right direction. it is a step to know where. -- nowhere. are we seeing places with a production cost of much lower than $30 per barrel? expense,e operating once reduced in the u.s., have lower cash costs elsewhere. cut in capital spending, and that is not likely to stop production at the current level. so we are likely to see a decrease in oil price. saudi arabia has an agenda. saudi arabia has a geopolitical objective because of russia meddling in the middl

. freeze in oil production, coupled with russia, should be pretty positive for prices down the line. ont: let's get more insight oil now. joining me now from new york is fadel gheit. he is the senior strategist from oppenheimer. , they were at high levels were they wanted to freeze, so this wasn't like a cut. it is not going to ease the pain on oil producers. it is not going to impact supply because saudi arabia and russia are producing basically at full capacity. maxing out. so global demand...

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of how it ends, a sod wins. -- assadwins.russia, iran,hezbollah help sod to the point where he wins. that is one possibility. isis would be destroyed in that situation. the syrian government reasserts its authority and the rebels are destroyed. the u.s. is not supporting that. the arab states are supporting that. turkey isn't supporting that program. another possibility, the kurds take over the north. the kurds drive isis effectively. that is the u.s. maine strategy now. the kurds will be the troops on the ground. with an arab participation. turkey doesn't want that. they are actively fighting against that. another possibility, that there is this moderate arab sunni coalition that pushes the kurds out and pushes assad back. the u.s. doesn't seem to want that. certainly russia doesn't want that. there is still no international consensus on how this is supposed to end. who is supposed to win. it is still a proxy war were everyone has most favored client. as long as that continues it is going to be very bloody. baghdad is getting worse and worse. worse and worse. a friend of mine

of how it ends, a sod wins. -- assad wins. russia, iran, hezbollah help sod to the point where he wins. that is one possibility. isis would be destroyed in that situation. the syrian government reasserts its authority and the rebels are destroyed. the u.s. is not supporting that. the arab states are supporting that. turkey isn't supporting that program. another possibility, the kurds take over the north. the kurds drive isis effectively. that is the u.s. maine strategy now. the kurds will be...

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. because we had the big overnight move upward in oil prices on the news that saudi arabiaandrussiahadagreed to freeze oil production but then disappointment as that was all they agreed to do. we started to see oil move downward. we are lower on the day. oil drillers are lower today. we did have wells fargo cutting earnings estimates for many of the drilling companies and cutting production targets overall for the industry. we had yet another driller claim bankruptcy. all of that is putting the pressure on and this is one of the groups that is not participating in the rally. alix: what is up with consumer discretionary? why is that getting a lift? julie: different reasons depending on what fax you look at. casinos are doing well. it is seeing a lift. out withnalysts coming the estimates for february gross gaming revenue and we will be getting that number in the coming days. it looks like that number is not going to be as weak as we have seen in recent months, according to some analysts. mgm, among all of those filings we have been getting, point72 asia reporting an increase. that look

. because we had the big overnight move upward in oil prices on the news that saudi arabia and russia had agreed to freeze oil production but then disappointment as that was all they agreed to do. we started to see oil move downward. we are lower on the day. oil drillers are lower today. we did have wells fargo cutting earnings estimates for many of the drilling companies and cutting production targets overall for the industry. we had yet another driller claim bankruptcy. all of that is putting...

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to wantthat.russiadoesn'twant that. there is still no international consensus on how this is supposed to end. who was supposed to win. it is still a proxy war were everyone has most favored client. as long as that continues it is going to be very bloody. baghdad is getting worse and worse. a friend of mine -- because of conflict. i friend of mine in baghdad, who was a very reasonable person i've known for many years told me for the first time he bought a gun. >> why? who is he and fear of? charlie: everyone. militias. crime. he's afraid there is a breakdown of law and order. bodies are being found, dumped in the streets. >> militias doing that? >> yes. basically. there's lots of different gangs. iran wants to make sure that they do not come back and reestablish its presence. they left iraq after having destroyed saddam hussein. they would've preferred them to have left as much -- in a much shorter amount of time. iran is not want the u.s. to come back. they will fight isis. no doubt. iran doesn't want to see an increased american presence there. charlie: americans don't want

to want that. russia doesn't want that. there is still no international consensus on how this is supposed to end. who was supposed to win. it is still a proxy war were everyone has most favored client. as long as that continues it is going to be very bloody. baghdad is getting worse and worse. a friend of mine -- because of conflict. i friend of mine in baghdad, who was a very reasonable person i've known for many years told me for the first time he bought a gun. >> why? who is he and...

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140 people. islamic state claimed responsibility. the u.s.andrussiahaveagreed on a truce. it would not cover terrorist groups. the u.s. called up peace talks with north korea after the recent missile test. north korea had demanded that a peace treaty replace the cease fire that ended the war in 1953. the driver blamed for the killing of six people in michigan appears in court today. he will be arraigned for the killing in kalamazoo. passengers inuck between the shootings saturday night. they appear to be random. cruz are thend ted only candidates who can keep donald trump from winning the presidential nomination. in scored a decisive victory south carolina. the results prompted jeb bush to drop out. a new law your for apple warns that a court order to unlock an iphone threatens the privacy of millions. ted olson says it would open a pandora's box of privacy issues. his wife was killed in the 9/11 attacks. global news 24 hours a day. --have more than 150 meters news bureaus around the world are in -- world. tom: sterling's front and center and we will get to that. francine wil

140 people. islamic state claimed responsibility. the u.s. and russia have agreed on a truce. it would not cover terrorist groups. the u.s. called up peace talks with north korea after the recent missile test. north korea had demanded that a peace treaty replace the cease fire that ended the war in 1953. the driver blamed for the killing of six people in michigan appears in court today. he will be arraigned for the killing in kalamazoo. passengers inuck between the shootings saturday night....

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the past few days. from $26.98 upof on the newsthatrussiaandsaudi arabia is going to freeze their production. if you look, opec go is a function i like to use a lot. we can see that freezing production at these levels are not a cut. we are already at the highest levels that we have been in history. so they are producing 33 million barrels a day of oil and it is not a cut. it is not a cut. we will follow oil closely today and see how the correlation with markets holds up. david: and that is opec. matt: that is right. saudi arabia dominates that production. erik: let's dig further into this production freeze. it is agreed to by the russians and the saudi's this morning. blas is with us. aguess we will start with basic question. how important is this agreement? >> is less important than the market wanted. but it is quite significant. it confirms where we were coming from. ago, saudi arabia and russia were fighting for market shares in eastern europe and in china and they were fighting a proxy war in syria. russianse saudi's and got together and have a preliminary agreement. tha

the past few days. from $26.98 upof on the news that russia and saudi arabia is going to freeze their production. if you look, opec go is a function i like to use a lot. we can see that freezing production at these levels are not a cut. we are already at the highest levels that we have been in history. so they are producing 33 million barrels a day of oil and it is not a cut. it is not a cut. we will follow oil closely today and see how the correlation with markets holds up. david: and that is...

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isis and remove bashar al-assad. the challenges of dealingwithrussia, withchina, and the problem of climate change, and the role of the united states in a rapidly changing world. from a balcony overlooking the white house, she told me how she would like to fix the dysfunction in washington, and what being president is about. there is the seat of power in america, the white house. pennsylvania avenue, down the road. they seem to be in conflict. there seems to be gridlock. can hillary clinton make a difference? barack obama thought he could. and he didn't. hillary clinton: well -- charlie: it takes two to tango. hillary clinton: he got a lot done, too, despite -- charlie: how can you do it? hillary clinton: get at it every day. charlie: it's not enough. hillary clinton: it starts with that, it starts with nurturing relationships. when i was first lady, when i was a senator or secretary of state, i worked across the aisle all the time. sometimes there was only one thing that i could find to work with somebody on, because everything else we were at odds. charlie: so you say to the new s

isis and remove bashar al-assad. the challenges of dealing with russia, with china, and the problem of climate change, and the role of the united states in a rapidly changing world. from a balcony overlooking the white house, she told me how she would like to fix the dysfunction in washington, and what being president is about. there is the seat of power in america, the white house. pennsylvania avenue, down the road. they seem to be in conflict. there seems to be gridlock. can hillary clinton...

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challenges of dealingwithrussia, china,and the problem of climate change. this, the role of the united states in a rapidly changing world. fixtold me how she hoped to the dysfunction in washington. there is the seat of power in america, the white house, pennsylvania avenue. there seems to be gridlock. can hillary clinton make a difference? barack obama thought he could. he didn't. i know. it's not criticism of him. sec. clinton: he got a lot done despite -- charlie: how do you do it? sec. clinton: people want to say to you, how do you stop this conflict? charlie: i'm going to get up every day and work at it. sec. clinton: it starts with that. it starts with once again nurturing relationships. when i was first lady, when i was secretary of state, i worked across the aisle all the time. sometimes, there was only one thing i could find to work with somebody on. everything else, we were at odds over. charlie: you say to the republicans, hillary clinton will be somebody you can deal with. sec. clinton: i will do anything to find common ground, but i will also stand my ground. there are some

challenges of dealing with russia, china, and the problem of climate change. this, the role of the united states in a rapidly changing world. fixtold me how she hoped to the dysfunction in washington. there is the seat of power in america, the white house, pennsylvania avenue. there seems to be gridlock. can hillary clinton make a difference? barack obama thought he could. he didn't. i know. it's not criticism of him. sec. clinton: he got a lot done despite -- charlie: how do you do it? sec....

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european-based security initiatives aimed atcounteringrussia'saggressivemoves toward ukraine. global news 20 hours a powered by our 2400 journalists in more than 150 news bureaus around the world. -- 24 hours a day. david: i'm looking at the dow, down 310 points. we have stocks once again working to the lows of the session. it has been deteriorating as the day goes on. nasdaq downow, the 2.25%. a decline in oil prices as well today. that is notable. those moving together. oil now around the lows of the session as well, breaking below $30 a barrel. those -- thatp gain, that bounce off the lows as well. we had a couple within the industry. bp comingbp earlier, out with proper declines of 91%. exxon mobil profit declining, beating estimates, but the company also cutting its capital expenditures considerably. by about 19%. it has risen from the lows on january 20. still posting that 19% drop on the year. david: for more on crude oil, i -- we areing in seeing the market prices decline in concert with oil. talk about that correlation. >> we are seeing the correlation between oil and equiti

european-based security initiatives aimed at countering russia's aggressive moves toward ukraine. global news 20 hours a powered by our 2400 journalists in more than 150 news bureaus around the world. -- 24 hours a day. david: i'm looking at the dow, down 310 points. we have stocks once again working to the lows of the session. it has been deteriorating as the day goes on. nasdaq downow, the 2.25%. a decline in oil prices as well today. that is notable. those moving together. oil now around...

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china. with oil related stocks surging on hopes of the deal from the venezuelaandrussiaandsaudi arabia meeting. one of the top deck's in surging by 18 of -- 1.8%. angie: borrowing binge in china last month sought credit reaching a record, bigger than the entire south african economy. 2.5 trillion yuan, or three and . that is a lot of cash. reporter: before i came on here, i was taking my job the ground. much higher than expected. we don't know for sure yet. somebody is linked to pick up a mortgage amount, companies trying to pay off foreign debt, and also a suspicion we are going to get the old labor. -- playbook. angie: how much of it is supporting the yuan? guest: the point is that people are worried the yuan will weaken further. this is way they're trying to get loans out of u.s. dollars and back into the yuan. as part of what is behind this story. there is also the feeling that it will be short-term, that this surge in lending will not last forever. china toxicity leveraging structural reform. angie: what does it mean for the chinese economy? is pboc propping things up. one

china. with oil related stocks surging on hopes of the deal from the venezuela and russia and saudi arabia meeting. one of the top deck's in surging by 18 of -- 1.8%. angie: borrowing binge in china last month sought credit reaching a record, bigger than the entire south african economy. 2.5 trillion yuan, or three and . that is a lot of cash. reporter: before i came on here, i was taking my job the ground. much higher than expected. we don't know for sure yet. somebody is linked to pick up a...

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learned earlierthatrussiaandsaudi arabia had come to an agreement to freeze oil production, but the fact that it is only a freeze is causing consternation in the market. something else i want to watch, oil volatility. sharply.e falling we have seen other types of assets down today. school vacation week. that is one of the things causing a little bit more quiet in the market. not quiet for oil this year, if you look at the year to date decline in oil prices, still a 22% pullback, despite a little bit of a bounce last week. thanks, another couple prices anyway. let's head to the first were desk and ramy inocencio. garnered 195 it votes, short of the 226 needed hadetro poroshenko and called on the president to resign, saying that they needed "a complete reboot." the united nations said may have to use methods to get rid spreading the zika virus. one of those, genetically modified male mosquitoes. environmentalists said criticized the approach in the past. extremist in the islamic state have slashed salaries and have been forced to pay utility bills in black market american dollars.

learned earlier that russia and saudi arabia had come to an agreement to freeze oil production, but the fact that it is only a freeze is causing consternation in the market. something else i want to watch, oil volatility. sharply.e falling we have seen other types of assets down today. school vacation week. that is one of the things causing a little bit more quiet in the market. not quiet for oil this year, if you look at the year to date decline in oil prices, still a 22% pullback, despite a...

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deal between saudiandrussia, butnow we move on aq, the two ir countries that want to raise output this year. this is the tricky negotiation. than me to talk about china's credit crisis. what is happening inside the credit story? npl's are searching, people are paying attention. to what we now know is that the chinese are saying we will make it easier, not harder, for banks to lend. then me get to the restructure of that business, trying to raise. that is the game at the moment -- fascinating to hear what they said yesterday. we will come back to that in a moment. first up, let's get you up to speed with caroline hyde. caroline: thank you. brent crude has risen ahead of a meeting between iraq and iran in to ron later -- in tehran later. the saudi oil minister described it as the beginning of a process. iran's oil chief will meet his venezuelan counterpart. david cameron has edged closer to membership of the european union. with the u.k. prime minister to in brussels next month, he won the backing of angela merkel. the dutch prime minister, the holder of the eu rotating presidency,

deal between saudi and russia, but now we move on aq, the two ir countries that want to raise output this year. this is the tricky negotiation. than me to talk about china's credit crisis. what is happening inside the credit story? npl's are searching, people are paying attention. to what we now know is that the chinese are saying we will make it easier, not harder, for banks to lend. then me get to the restructure of that business, trying to raise. that is the game at the moment --...

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the latest developments. yesterday, the world's two largest producers, saudi arabiaandrussia, agreedto freeze production levels at what they were in january. this is significant because it is the first time in 16 years that opec and non-opec producers have agreed to potential coordinated action to try to prop up prices. it is contingent on several other countries joining. the spotlight shifts to iran where producers will meet and try to lobby that iran join this plan. seen as the big barriers. they have been explicit the last few weeks that they want to .oost production, boost exports it seems very unlikely they would join this plan to freeze output where it is right now. they want to boost production as much as a million barrels a day. the big risk in this that iran will not join the plan. about fourre talking major players. what happens to other producers if we see these coordinated freezes or a supply cut? aaron: even if there is a coordinated freeze or a supply cut after that, there is another risk with u.s. shale producers. they will not agree to any of these provisions. they s

the latest developments. yesterday, the world's two largest producers, saudi arabia and russia, agreed to freeze production levels at what they were in january. this is significant because it is the first time in 16 years that opec and non-opec producers have agreed to potential coordinated action to try to prop up prices. it is contingent on several other countries joining. the spotlight shifts to iran where producers will meet and try to lobby that iran join this plan. seen as the big...

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. they would like a weaker one.shery:russiaagreedto freeze energy production. >> we have an agreement to freeze production between saudi and other countries. >> it was probably too much to ask between these two countries. you think about where we were only three months ago. and where we are today. you have much seachange. three months ago, saudi arabia and russia were fighting. moscow was trying to do the same in china. both countries were fighting a proxy war in syria. today, the ministers of both countries they really reached a preliminary agreement. i think that is quite significant. >> they have a floor, a price they don't what the threshold to be below that. that is $30. >> russia and saudi arabia are trying to tell the market that's it. if you try to break the price below $30, it will come with -- we are only now understanding what is going on behind the scenes. >> transcripts show policymakers expressed concerns of policy markets and risks to the u.s. economy. joining us from washington, mike mckee. there has been residents on the part of the fed. you read any more understandin

. they would like a weaker one. shery: russia agreed to freeze energy production. >> we have an agreement to freeze production between saudi and other countries. >> it was probably too much to ask between these two countries. you think about where we were only three months ago. and where we are today. you have much seachange. three months ago, saudi arabia and russia were fighting. moscow was trying to do the same in china. both countries were fighting a proxy war in syria. today,...

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you believe -- charlie: do you believe that after he fledtorussiaandchina, because of their intelligence agencies and interrogation, that they have essentially -- have denied it. do you assume it did and do you assume they had means of getting more information from him that would be damaging to america's national security? michael: you are talking to an intelligence officer. i am most comfortable reasoning in an inductive manner. i have data and i say this is what i say happened. i don't have data that any of that happened. reasoning deductively, coming back to what west explains his ability to do these things. -- what best explains his ability to do these things? i begin to hypothesize that he got assistance from other. and what others may have been able to get from him, if he had the data with him in hong kong and moscow -- we may never know. in my current position -- in my old job, you need to assume that. if you have the data with him, i would lose all respect for the chinese intelligence service if they did not harvest all of it. charlie: every intelligence agency has t

you believe -- charlie: do you believe that after he fled to russia and china, because of their intelligence agencies and interrogation, that they have essentially -- have denied it. do you assume it did and do you assume they had means of getting more information from him that would be damaging to america's national security? michael: you are talking to an intelligence officer. i am most comfortable reasoning in an inductive manner. i have data and i say this is what i say happened. i don't...

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saudi arabiaandrussiatofreeze output was ridiculous. he said the proposal to cut production at january levels puts unrealistic demands on iran as a returns to the market. erin clark is in tokyo. what else has the rainy minister said. -- the iranian minister said. >> right. the market reacted quite strongly yesterday, both wti and brent fell 4%. wellre both down today as after the iranian minister calls this proposal by russia and saudi arabia to really freeze production of january levels ridiculous, and he said it placed unrealistic demands on iran. it -- to a lot of people's hopes of there might be some grand bargain between opec and non-opec users to freeze production. the context is saudi arabia and russia producing a near record levels. they are producing 10 million barrels a day for each of them. on the other hand, iran is returning to the market after international sanctions were lifted, trying to regain market share from only producing 2.9 million barrels a day. they said they want to boost reduction by 500,000 barrels a day over the next month or two, and a million over

saudi arabia and russia to freeze output was ridiculous. he said the proposal to cut production at january levels puts unrealistic demands on iran as a returns to the market. erin clark is in tokyo. what else has the rainy minister said. -- the iranian minister said. >> right. the market reacted quite strongly yesterday, both wti and brent fell 4%. wellre both down today as after the iranian minister calls this proposal by russia and saudi arabia to really freeze production of january...

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andrussiawillhave little impact on the oil market. prices could drop below $20 a barrel. that is your bloomberg's newsflash. guy: thank you. let's take with oil. joining us is the head of commodity market of strategy at the bnp paribas. erik nielsen is also still with us. iranians --ith the the arabians want to play in this discussion? why would they want to go back to a shank shinned regime? -- to a sanctions regime? : we will look at the iranians playing along with the freeze at their official secretary,to the which is higher than it is one assessed by third parties. you play along but still have room to increase market share. that is the face-saving outcome. raising production at the high watermark does not help production. guy: did those discussions change the risk-ward of oil? you have to be aware at the margin there are discussions happening, and it becomes more difficult. harry: given how low oil prices adding risk-reward positions, already risky long-short exposure has limited rewards. the market is trying to catch short covering rallies in the meantime. we are going to s

and russia will have little impact on the oil market. prices could drop below $20 a barrel. that is your bloomberg's newsflash. guy: thank you. let's take with oil. joining us is the head of commodity market of strategy at the bnp paribas. erik nielsen is also still with us. iranians --ith the the arabians want to play in this discussion? why would they want to go back to a shank shinned regime? -- to a sanctions regime? : we will look at the iranians playing along with the freeze at their...

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president, which will not be noticed for some time. theu.s.,russia, andother powers have backed an accord calling for troops into the syrian civil war. they're also demanding immediate delivery of humanitarian assistance to the besieged areas. >> we are doing everything in the power of diplomacy to try and bring an and to this conflict. waya way that results in a of unified, nonsectarian, minority-protecting, secular, whole state. caroline: we will be speaking to the u.k. defense secretary michael fallon here on countdown. , the chairman and chief executive of jpmorgan, spent $26.6 million buying shares of his bank yesterday. that is after it tumbled to the lowest price in two years. sources say he believes it is cheap, after the global route in equities. assets are down almost 20% this year. global news 24 hours a day, howard by 124 journalists around the world. manus: caroline, thank you. let's get you up to speed in terms of the asian session. eb: difficult day certainly for stocks. yenknow the eyes are on the and the bank of japan. we know that governor kuroda at a meeting t

president, which will not be noticed for some time. the u.s., russia, and other powers have backed an accord calling for troops into the syrian civil war. they're also demanding immediate delivery of humanitarian assistance to the besieged areas. >> we are doing everything in the power of diplomacy to try and bring an and to this conflict. waya way that results in a of unified, nonsectarian, minority-protecting, secular, whole state. caroline: we will be speaking to the u.k. defense...

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by aig? we will examine whether this couldhappen.russiaandsaudi arabia freeze oil output at january's levels. sign crudeility is a doesn't have much further to fall. despite reports leveraged buyouts are beginning to dry up, apollo acquires abt. more on this $7 billion deal ahead. we are one hour from the close of trading, so we had to the markets desk where julie hyman has the latest. julie: i'm just looking at volume and where we are at the moment. from the 20 day average at this point. a lot of folks off for this vacation week, at least in new york city schools. stocks rally for the second straight is -- for the second straight day on this low volume but people will take the rally however they can't get it. if you look at this two session rally we have seen, it amounts to about 3.5%, the best back-to-back games we've seen this month. it is also a broad-based rally. look at the sectors on the move, you have a lot of economically sensitive groups doing well. that's helping to lead the gains. these have been some of the most tattered groups we have had year to date. speaking

by aig? we will examine whether this could happen. russia and saudi arabia freeze oil output at january's levels. sign crudeility is a doesn't have much further to fall. despite reports leveraged buyouts are beginning to dry up, apollo acquires abt. more on this $7 billion deal ahead. we are one hour from the close of trading, so we had to the markets desk where julie hyman has the latest. julie: i'm just looking at volume and where we are at the moment. from the 20 day average at this point....

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iran says it supports the freeze initiated by saudi arabiaandrussia. tehranhas not committed to any curbs of its own. how significant is that fact? >> iran is the most important cog in the whole equation. it wants to increase its output because sanctions have been removed. with iran saying -- they are looking for more room to move. national ceoranian saying they would reach -- that is halfway to wear their target is. iraq waswas part of -- part of those discussions yesterday but we have not heard any correspondence. that country has increased output by 70% over the past five years as they recovered from the conflicts. will the rock be a part of it -- will iraq be a part of that as well? shery: investors need to shrug it off. >> the important thing is saudi arabia and russia said they will only participate if other countries participate. that is the key. saudi arabia has always said they would cut output if other countries participate. remember the old 13 million barrel a day quota they had? there was never any compliance. whether it goes ahead is unclear. you have oldman saying even

iran says it supports the freeze initiated by saudi arabia and russia. tehran has not committed to any curbs of its own. how significant is that fact? >> iran is the most important cog in the whole equation. it wants to increase its output because sanctions have been removed. with iran saying -- they are looking for more room to move. national ceoranian saying they would reach -- that is halfway to wear their target is. iraq waswas part of -- part of those discussions yesterday but we...

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have clearly in march and germany in 2017 and we have u.s.andrussia. imean, there's a lot of things happening. fran: but will they get worse? we have had some worse than expected ideas that the shock is coming. >> i think it's a slow grind. i think >> i think the consequences that are structural have not really been priced in, and the market has adjusted to alure price, but -- and i would say still looking at familiar indicators. i think we need to look at new indicators. if you look at what's happening with russia and russia and syria, you could say that this is a tool in a way to divide europe. tom: virginia, i'm glad you're bringing that up. we have headlines coming across bloomberg right now. we have seen from it says syria with no progress. then you see oil. day-to-day, virginia, do you belief there's a geopolitical part in the price of oil? or did that evaporate in the move? >> i think it's definitely a geopolitical part, which is showing that the tables have turned. trying to get together all the old factions, if you want, that have power over the old prize, every time

have clearly in march and germany in 2017 and we have u.s. and russia. i mean, there's a lot of things happening. fran: but will they get worse? we have had some worse than expected ideas that the shock is coming. >> i think it's a slow grind. i think >> i think the consequences that are structural have not really been priced in, and the market has adjusted to alure price, but -- and i would say still looking at familiar indicators. i think we need to look at new indicators. if you...

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is the effect of recent global financial turbulence. theu.s.,russia, andother powers have backed an accord calling for a truce in syria's civil war. it demands the immediate delivery of humanitarian assistance to besieged areas. >> we are doing everything in the power of a clemency -- of tolomacy to bring an end this conflict in a way that results in a unified, nonsectarian, minority protecting, secular whol state. jon: thank you very much, caroline. let's get over to mark barton for a wrapup of the markets. for: second day of gains the stoxx 600. yesterday, the lowest level since september 2013. still heading for the worst week of january -- since the first week of january. this is a year-to-date chart. we are down by over 14%. the yen, the currency of the year. this is the dollar against all the major peers this week. the yen is the best performer. best week since october 2008. highest level since october 2014. since the boj produced negative interest rates, the yen has risen by 6%. speculation has grown that authorities will intervene to weaken the currency. sayingad authoriti

is the effect of recent global financial turbulence. the u.s., russia, and other powers have backed an accord calling for a truce in syria's civil war. it demands the immediate delivery of humanitarian assistance to besieged areas. >> we are doing everything in the power of a clemency -- of tolomacy to bring an end this conflict in a way that results in a unified, nonsectarian, minority protecting, secular whol state. jon: thank you very much, caroline. let's get over to mark barton for...

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outputeaningful cuts for saudiarabia,russia, andothers. vonnie: from bloomberg world headquarters in new york, this i amloomberg markets," and vonnie quinn. let's go to the headlines. ramy inocencio. we head on over to u.s. politics and the race for the white house. a big presidential endorsement on the republican side. governor nikki haley, the in south carolina politics, we'll backed senator marco rubio, according to the state newspaper. she will announce her support at a rally today. she delivered the 2016 republican response to president obama's state of the union address and is considered a top potential vice presidential candidate. 28 people are now dead after an explosion in the capital of ankara. 61 others have been wounded. a suspected car bomb exploded near turkey's military headquarters during rush hour could the turkish prime minister canceled a trip to brussels because of the explosion. will lady michelle obama join president obama in visiting the supreme court when justice antonin scalia lies in repose friday. vice president joe biden and his wife will attend the scalia funeral.

outputeaningful cuts for saudi arabia, russia, and others. vonnie: from bloomberg world headquarters in new york, this i amloomberg markets," and vonnie quinn. let's go to the headlines. ramy inocencio. we head on over to u.s. politics and the race for the white house. a big presidential endorsement on the republican side. governor nikki haley, the in south carolina politics, we'll backed senator marco rubio, according to the state newspaper. she will announce her support at a rally...

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the morning, we heard there was going to be a freeze in productionbetweenrussia, saudivenezuela,ar, and but they could not hold on to those gains in cap sliding. brent got hammered hard, down over 3%. the bti off just over 1%. off just over 1%. rally,up and thought, oh, really? a quick check of gold. it softened a little bit come and you are talking about a safe haven. we saw that reverse as well. interesting, china came back into the market today. the rally we have seen in gold, is it too much and prices are too high? it is interesting that the pause in the rally happen when china came back. joe: finally a bit of a breather there. alix: those are your market minutes, and now i want to take a look at something that caught our eye, the oil forward curve for oil. lineis brent, that green is what the market is pricing the oil to be from 2016 all the way to 2023, and today it has repriced two dollars higher across the curve. that tells me the market is now expecting slightly higher prices over the next 10 years. outsche bank pointed this and said that even if that freeze in oil prod

the morning, we heard there was going to be a freeze in production between russia, saudi venezuela,ar, and but they could not hold on to those gains in cap sliding. brent got hammered hard, down over 3%. the bti off just over 1%. off just over 1%. rally,up and thought, oh, really? a quick check of gold. it softened a little bit come and you are talking about a safe haven. we saw that reverse as well. interesting, china came back into the market today. the rally we have seen in gold, is it too...

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internet for their own identities and the world. ♪ ♪ charlie: whether itisrussiaorchina, a big aspect is sovereignty. culture of china for example, there is a feeling that , in the political dialogue, it is none of your business. they don't want you coming in here and doing things could "-- things. "we want control." scott: there was a time where the cancellation in russia and calcu the internet-- the lation in russia and china, the internet was so out of their control. now, they have involved with all these different governments. they will try to restrain people in terms of what they can do and their power. what you have now in china is that technology companies can rival american technology companies, in terms of innovative ability. charlie: some say chinese governments hope those companies. companies.se scott: no one is entirely innocent. [laughter] nsalie: if the head of makes the case that what china does that we don't do is that we are not acting in the interests of private companies, whereas the chinese government will encourage and be in favor of corporate espionage, es

internet for their own identities and the world. ♪ ♪ charlie: whether it is russia or china, a big aspect is sovereignty. culture of china for example, there is a feeling that , in the political dialogue, it is none of your business. they don't want you coming in here and doing things could "-- things. "we want control." scott: there was a time where the cancellation in russia and calcu the internet-- the lation in russia and china, the internet was so out of their control....

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agreement by saudi arabiaandrussialastweek to put is ridiculous. let's take a look at the major averages. oil equity correlation happening. and 1% onn the s&p the nasdaq. ♪ carol: from bloomberg rolled head quarters new york, this is bloomberg markets. -- bloomberg world headquarters in new york, this is bloomberg markets. mark: u.s. secretary of state john kerry says an accord between the u.s. and russia to curb the violence in syria is the best opportunity to keep the troubled country intact. he told the senate foreign relations committee today that time is running out for russia to support the transition to a government that does not include bashar al-assad. >> there are forces out there that will never stop fighting. if you want peace, by definition, we believe it has to be without assad. the civil war has displaced 23 million people. this by fierce opposition from congress, president obama is sending lawmakers his plan for closing the u.s. military prison at one time of a that guantanamo bay, cuba. the plan calls for transferring dozens of terrorists at once to a site her

agreement by saudi arabia and russia last week to put is ridiculous. let's take a look at the major averages. oil equity correlation happening. and 1% onn the s&p the nasdaq. ♪ carol: from bloomberg rolled head quarters new york, this is bloomberg markets. -- bloomberg world headquarters in new york, this is bloomberg markets. mark: u.s. secretary of state john kerry says an accord between the u.s. and russia to curb the violence in syria is the best opportunity to keep the troubled...

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supportrussiaandsaudi arabia freezing production. no word on if they want to participate in freezing that. that was enough to prompt a rally in oil. the oil rally with copper and gold, typically they are ok. gold was rallying on that. that is interesting. i miss that about gold. now what sick a deep dive into the bloomberg. i was looking at what was going on in oil. why we are seeing such big swings. long positions versus short positions. in theory when you have a jump in long positions, you see short positions, off a little bit when you have a big surge in long's shorts don't do a lot. when you have shorts moving higher, they tend to move inversely. we are not saying that. long positions in short positions rise. curry pointed this out yesterday as part of the reason why he sees oil over the next 6-9 months. the market is so divided it is not surprising. dive into the bloomberg because one of the big questions is is the u.s. sliding into recession? some data is not so great. some looks fine. applications,ase this data point comes out every week. it is very noisy. it bounces a lot. wh

support russia and saudi arabia freezing production. no word on if they want to participate in freezing that. that was enough to prompt a rally in oil. the oil rally with copper and gold, typically they are ok. gold was rallying on that. that is interesting. i miss that about gold. now what sick a deep dive into the bloomberg. i was looking at what was going on in oil. why we are seeing such big swings. long positions versus short positions. in theory when you have a jump in long positions,...

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for the referendum. oil is on the riseafterrussiasaidtalks should be done by march. nigeria is backing saudi arabia and russia's decision to freeze production. africa's biggest producer says iran and iraq should be given some room to win back market share. bombings in syria have killed at least 140 people. that came as the u.s. said russia agreed to the terms of a limited cease-fire. islamic state said it carried out the attacks in the southern suburb of damascus. china stocks have risen to the highest in a month on speculation the new securities regulator chairman will take steps to use the world's second-largest equity markets. his predecessor was criticized for mismanagement that helped deepen last year's rout. global news 24 hours a day, powered by 2400 and more than 150 news bureaus around the world. manus: let's check in on the asian market session. aidi: a very good day to you guys. we had asian markets reversing direction after quite a volatile start to the trading day. we are seeing gains building on the rally we had recently. this is being led by japanese markets. the

for the referendum. oil is on the rise after russia said talks should be done by march. nigeria is backing saudi arabia and russia's decision to freeze production. africa's biggest producer says iran and iraq should be given some room to win back market share. bombings in syria have killed at least 140 people. that came as the u.s. said russia agreed to the terms of a limited cease-fire. islamic state said it carried out the attacks in the southern suburb of damascus. china stocks have risen...

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saudi arabia as wellasrussia, isa first step and it may indicate willingness to change their tune. certainly there's no binding element to this that would require the member states to put in any extra efforts to actually achieve these goals. it's a bit behind the game in terms of action that should have been taken. they are supposed to complete these talks by march 1. russia says the oil output freeze could work even without iran. they want to ramp up production, and their market share has been impacted from the years of sanctions. iraq as an interest, interest, and two end the global surplus and get past this 12 year low for crude oil, certainly output seem to be the only way to achieve it great angie: opec has introduced its fair share of uncertainty into the market. when is the next critical meeting? months toed several assess the impact of this agreement, whether it will have any demonstrable impact on the market. that takes us to june, the next emergency meeting. if they call an emergency meeting, it introduces further uncertainty into the marketplace . the speculators w

saudi arabia as well as russia, is a first step and it may indicate willingness to change their tune. certainly there's no binding element to this that would require the member states to put in any extra efforts to actually achieve these goals. it's a bit behind the game in terms of action that should have been taken. they are supposed to complete these talks by march 1. russia says the oil output freeze could work even without iran. they want to ramp up production, and their market share has...

eye17

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. so we have an agreement betweensaudi,russia, andtwo other opec countries. what does it mean? the markets were disappointed. it was too much for the first meeting of these two countries, at least in eight months. were onlyt where we three months ago, where we are today. the market seachange in the situation. three months ago, saudi arabia and russia were writing or market share -- were fighting for market share. moscow was trying to do the same in china. over that, both countries were fighting a proxy war in syria. today in doha, the ministers of both countries -- i do not think they keep the subset, but they really reach a preliminary agreement. i think that is quite significant. francine: they have a floor, they have a price they do not want the pleasur threshold to b, and that is $30. that's $30 price level -- these deep-seated negotiations. erik: transcripts show policymakers expressed concern following commodity prices. isning us from washington bloomberg economics editor mike mckee. mike, there has been a residence on the part of the fed for them to say what the risks are. d

. so we have an agreement between saudi, russia, and two other opec countries. what does it mean? the markets were disappointed. it was too much for the first meeting of these two countries, at least in eight months. were onlyt where we three months ago, where we are today. the market seachange in the situation. three months ago, saudi arabia and russia were writing or market share -- were fighting for market share. moscow was trying to do the same in china. over that, both countries were...

eye25

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opecversusrussia, thatis half of the market. andeeze in oil production russian, that should be positive for prices down the line. for the last six or seven weeks, swaps ofeen the trade many role producers skyrocketing in the private sector. that is going to put a lot of pressure on output over the next few months. we have the carter lysed -- we have the guys and russia and the guys that look at the market for becausealso struggling of the environment. in my mind, this points to a meaningful stagnation. their constructive overall. brendan: we're talking about the possibility of a floor on the price of oil with the cartel and the price of russia. obviously, there has been the stress and the american oil patch. reacht floor comes up and $40, that is not look quite as bad. there are people in north the coda and texas -- north dakota and saying at russia that the price will never get above $50. i think the forward oil price may have a hard time. the stock price is a function of both cyclical and seasonal demand. it is much harder to make the calls that it will never go above $50. th

opec versus russia, that is half of the market. andeeze in oil production russian, that should be positive for prices down the line. for the last six or seven weeks, swaps ofeen the trade many role producers skyrocketing in the private sector. that is going to put a lot of pressure on output over the next few months. we have the carter lysed -- we have the guys and russia and the guys that look at the market for becausealso struggling of the environment. in my mind, this points to a meaningful...

eye15

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greater impact ontherussia--russia'seconomyis the precipitous drop of oil. 37, 30 eighting at dollars a barrel, if that, and the planning they have used is $50 a barrel. so, sanctions have contributed to that, but the major impact has been with oil. considerhe russians the ukraine little russia. i think it is deeply steeped in their history and their culture, so they are going to attempt to sustain influence, particularly ,n the two separatist publics and obviously with the russians most feared and are most the ukraineout is gravitating to the west more than it already has, meaning becoming part of the european union, or nato. .ussia will be proxies the separatist will sustain their influence in the ukraine in that manner. mr. quigley: do you see the status remaining the way it is -- everything there is renewed conflict at different times, but no dramatic change recently --it is? obviously there is renewed conflict at different times, but no dramatic change recently. mr. clapper: i think they will maintain the status quo, but there are incidents occurring on the line that has

greater impact on the russia -- russia's economy is the precipitous drop of oil. 37, 30 eighting at dollars a barrel, if that, and the planning they have used is $50 a barrel. so, sanctions have contributed to that, but the major impact has been with oil. considerhe russians the ukraine little russia. i think it is deeply steeped in their history and their culture, so they are going to attempt to sustain influence, particularly ,n the two separatist publics and obviously with the russians most...